Money Laundering
US charges two over laundering $43 million from investment fraud
U.S. prosecutors on Thursday charged a New York man and woman for their roles in a large-scale crime ring that laundered money stolen in cyber investment fraud scams. 27-year-old Zhuoying Chen and 38-year-old Haojie Zhang allegedly managed a network of over a dozen people based in Queens and Brooklyn between 2020 and 2022. Chen and […]
Spanish Police take down €140 million cyber fraud ring, arrest four
The Spanish Police dismantled a cybercrime and money-laundering organization that made €140 million ($160 million) from investment fraud and business email compromise (BEC) attacks. As part of the law enforcement operation, four people were arrested in Spain, Portugal, and Panama. The police describe the operation as an industrial-level scheme as it involved at least 800 […]
Money launderer accused of stealing seized crypto while in prison
A Bulgarian national has been charged with stealing $290,000 in government-seized cryptocurrency while serving 121 months in prison for helping launder millions stolen from American fraud victims. 53-year-old Rossen G. Iossifov appeared in federal court in the Eastern District of Kentucky this Wednesday on charges of removal of property to prevent seizure and conspiracy to […]
US charges suspected Dream Market admin arrested in Germany
The alleged main administrator of Dream Market Incognito Market, one of the largest dark web marketplaces before its shutdown, has been indicted in the United States on money laundering charges. 49-year-old Owe Martin Andresen was charged by a federal grand jury on Wednesday with six counts of international concealment money laundering and six counts of […]
Money launderer linked to $230M crypto heist gets 70 months in prison
22-year-old Evan Tangeman of Newport Beach, California, was sentenced to 70 months in prison for laundering funds stolen in a massive $230 million cryptocurrency heist. According to court documents, Tangeman (also known as “E,” “Tate,” and “Evan|Exchanger”) helped the suspects behind the crypto-heist launder at least $3.5 million between October 2023 and May 2025. Fourteen suspects […]
Police dismantles online gambling ring exploiting Ukrainian women
Spanish and Ukrainian law enforcement authorities dismantled a criminal ring that exploited war-displaced Ukrainian women to run an online gambling scheme that laundered nearly €4.75 million in illicit proceeds. The criminal group was formed amid the war in Ukraine and deliberately targeted young women from areas that were under continuous attack. The criminal network’s recruitment […]
Crypto wallets received a record $158 billion in illicit funds last year
Illegal cryptocurrency flows reached a record $158 billion in 2025, reversing a three-year trend of declining amounts from $86B in 2021 to $64B in 2024. This sharp 145% increase is being reported by blockchain intelligence experts at TRM Labs, who noted that it comes despite the illicit activity share of the total on-chain volume actually falling […]
US seizes E-Note crypto exchange for laundering ransomware payments
Law enforcement has seized the servers and domains of the E-Note cryptocurrency exchange, allegedly used by cybercriminal groups to launder more than $70 million. It is believed that the funds originated from ransomware and account takeover attacks, and were subsequently funneled through an international network of “money mules.” “Since 2017, the FBI identified more than […]
California man admits to laundering crypto stolen in $230M heist
A 45-year-old from Irvine, California, has pleaded guilty to laundering at least $25 million stolen in a massive $230 million cryptocurrency heist. Kunal Mehta (also known as “Papa,” “The Accountant,” and “Shrek”) is the eighth defendant to plead guilty for his participation in this scheme following charges brought by the Department of Justice in May […]
US sanctions North Korean bankers linked to cybercrime, IT worker fraud
The U.S. Treasury Department imposed sanctions on two North Korean financial institutions and eight individuals involved in laundering cryptocurrency stolen in cybercrime and fraudulent IT worker schemes. The Treasury’s Office of Foreign Assets Control (OFAC) designated Ryujong Credit Bank, a North Korea-based financial institution linked to sanctions-evasion activities between North Korea and China, including money laundering. OFAC […]